American business intelligence company MicroStrategy has recorded another quarterly loss after calculating the value of its Bitcoin portfolio.

According to a Bloomberg report, MicroStrategy recorded a net loss of $249.7 million, narrowed down to $21.93 a share, in Q4 2022. The firm’s revenue declined by 1.5% to $132.6 million, going lower than the estimated drop.

The Virginia-based company incurred an impairment charge of $197.6 million on its BTC holdings in the last quarter. The value is significantly higher than the impairment of $727,000 incurred in the previous quarter.

As reported by CryptoPotato, MicroStrategy disclosed that bitcoin’s relatively stable valuation in Q3 contributed to the minimal impairment charge. The company also purchased 301 more bitcoins between July and October last year, increasing its holdings to 130,000 BTC.

By the end of Q4, the business intelligence firm had amassed 132,500 bitcoins, sticking to its goal of accumulating the crypto asset. Although the company sold some 704 BTC to foot its tax charges for the first time, it eventually bought 810 BTC a couple of days later.

Fortunately, due to bitcoin’s rally of over 40% since the beginning of the year, MicroStrategy’s BTC stash has increased by about $850 million. Its shares have also more than doubled to roughly $290 from an over 60% plunge.